Withdrawing your funds from Coinbase wallet is easy. Many traders signing up with this popular platform often want to know how to withdraw from Coinbase, particularly when they place a withdrawal request for the first time. Traders, however, should note that the withdrawn fund would reflect in their respective accounts within 48 hours after placing the request. In Coinbase vault, the funds are stored in cold storage. This prevents them from online threats and hacks. To enhance security Coinbase does not permit immediate withdrawal of these assets.
Steps to follow to withdraw funds from Coinbase wallet:
- Firstly, you need to choose from the two options: Individual withdrawal and Group withdrawal. In the first case, you would not require the approval of other traders. In case you choose Group withdrawal, the process would require the approval of your co-signers.
- Traders who select the ‘Individual’ option would require to furnish a secondary email id. This is necessary to confirm your request through email.
- Once you have confirmed the withdrawal request, open the mobile app and go to the ‘Accounts’ page. Choose the vault, where you have stored the assets. You will get the ‘Withdraw’ option on the top corner on the right-hand side. Here, you need to enter the amount you have to withdraw and provide the 2FA answers (two-factor authentication). Finally, click on the ‘Withdraw’ option, which is available on the app.
The process is easy and simple. However, you may call the customer support desk if you face any hassle using the app. You would also receive an email for confirmation after you place your request for withdrawal.
Coinbase wallet offers optimal security while storing your digital coins. You can use this wallet to store Bitcoins, Ethereum or any other digital currency. Traders can also deposit or withdraw currencies at any hour of their preference.